If NASCAR makes a business decision in favor of one track rather than another, based upon the fact that the track it chooses is owned by the same family who owns NASCAR, rather than the overall profitability of the chosen track, economists will insist that
A. monopoly does not really govern auto racing.
B. this is what happens when there is significant economic competition in racing.
C. competition will quickly lead to NASCAR's demise.
D. this is simply a consequence of the family's monopoly power.
Answer: D
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A net capital inflow occurs in open economies where investment is:
A. higher than national savings. B. lower than national savings. C. equal to national savings. D. higher than national spending.
The dollar amount of reserves a bank is obligated by regulation to hold as cash in the bank's vault or on account at the Fed is called the excess reserves
Indicate whether the statement is true or false
What is the difference between an economic hypothesis and an economic theory?
a. A hypothesis is simplified; a theory is more complex. b. A hypothesis has yet to be tested; a theory has been tested and accepted. c. A hypothesis uses broad assumptions; a theory uses more specific assumptions. d. A hypothesis uses abstractions; a theory uses models.
Refer to the information provided in Figure 15.3 below to answer the question(s) that follow. 
Figure 15.3 Refer to Figure 15.3. In the short run, this company is ________, and in the long run, it should expect to ________.
A. suffering a loss; shut down B. breaking even; break even C. making a profit; break even D. suffering a loss; break even